Understanding Your Prospectus

Most of us can remember receiving a prospectus when we purchased our home. If not, it is very important that you locate it. As described in the following article from the FMO, "What You Should Know", "it is a legally binding document that governs living in a mobile home park, and contains very important information regarding your legal rights and financial obligations in leasing a mobile home lot." It may seem a little intimidating, but this article breaks it into simplified sections you can understand. It is imperative that you familiarize yourself with your own prospectus. Most importantly, this document stays with the home and not with the homeowner.